Singapore Shares Open Higher as Investors Focus on Earnings

MT Newswires

08/07

Singapore shares opened higher on Friday, lifted by local heavyweight earnings as investors moved past the crisis in the Middle East.

The Straits Times Index opened 0.27%, or 15.13 points higher, at 5,654.120.

While major banks like United Overseas Bank (SGX:U11) and Oversea-Chinese Banking Corp (SGX:O39) posted gains in profit, the Singapore Exchange (SGX:S68) also recorded a jump in its attributable profit to SG$698.4 million from SG$648 million.

Investors will also be keenly eyeing U.S. nonfarm payrolls report later on Friday for cues on the Federal Reserve's interest rate outlook.

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